BlackRock says coal is dead as it eyes renewable power splurge, page-26

I work for a supermajor in oil and gas and I can assure you funds have been shifting out of oil assets, into gas and now into renewables (in that order) over the past few years by the company I work for. I am a drilling supervisor on rigs and an engineer, so this shift is actually determintal to my job prospects and I feel it first hand. Our division of ~45 in December 2015 is curently about 12. Much the same situation at peer companies.

I don't deny that oil will be around, but oil projects are simply not even at break even at these levels. There has been a shift towards gas projects (which vary in terms of profitability), and only the absolute best get picked. It makes absolute no business sense to invest in these assets right now because the returns are simply non existent. I have heard this first hand from the highest level of management.

I suggest you look at the new 'New Energies' division of an oil and gas company to see that they are divesting from traditional oil and gas right now...Other majors have started following suit. Also check out what Saudi Aramco are doing.

Three colleagues also placed a deposit on a Tesla 3 the first week. A little telling huh?

M92